Defendant Name:
AppFolio, Inc.
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
03783C10
Document Reference:
34-100971
Document Details
Legal Case Name
In the Matter of AppFolio, Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
09-Sep-2024
Document Format
Administrative Proceeding
Allegation Type
Other
Document Summary
On September 9, 2024, the SEC instituted settled cease-and-desist proceedings against AppFolio, Inc., stating: "As a regular part of its business, AppFolio enters into employment agreements with
employees and consulting services agreements with independent contractors. These agreements
define the rights and responsibilities of the employee or contractor during their working
relationship with the company and after their departure. . . . [T]hese provisions created
impediments to participation in the Commission’s whistleblower program by requiring individuals
to forego their right to voluntarily provide information to the Commission staff or the financial
award they might receive for doing so."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$692,250.00
Shared:
